Investments (Tables)

3 Months Ended

Mar. 31, 2016

Investments [Abstract]

Schedule of Amortized Cost and Aggregate Fair Values of Investments in Available-for-Sale Securities

The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2015 are as follows (dollars in thousands):

Available-for-sale securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	38,245	$	747	$	1,728	$	37,264
Mortgage backed securities	15,324		157		224		15,257
Private label asset backed securities	6,029		24		380		5,673
Obligations of states and political subdivisions	14,654		869		47		15,476
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	17,825		413		96		18,142
Total fixed maturities	92,077		2,210		2,475		91,812
Equity securities	2,420		2,590		113		4,897
Total	$	94,497	$	4,800	$	2,588	$	96,709

The amortized cost and aggregate fair values of investments in available-for-sale securities as of March 31, 2016 are as follows (dollars in thousands):

Available-for-sale securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	38,378	$	1,157	$	1,173	$	38,362
Mortgage backed securities	14,212		370		103		14,479
Private label asset backed securities	8,866		40		631		8,275
Obligations of states and political subdivisions	13,933		938		3		14,868
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	18,601		744		10		19,335
Total fixed maturities	93,990		3,249		1,920		95,319
Equity securities	2,420		2,747		110		5,057
Total	$	96,410	$	5,996	$	2,030	$	100,376

Schedule of Amortized Cost and Aggregate Fair Values of Investments in Held-to-Maturity Securities

The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2015 are as follows (dollars in thousands):

Held-to-maturity securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Mortgage backed securities	$	2,395	$	62	$	—	$	2,457
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	44		3		—		47
Total	$	2,439	$	65	$	—	$	2,504

The amortized cost and aggregate fair values of investments in held-to-maturity securities as of March 31, 2016 are as follows (dollars in thousands):

Held-to-maturity securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Mortgage backed securities	$	2,332	$	102	$	—	$	2,434
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	38		3		—		41
Total	$	2,370	$	105	$	—	$	2,475

Schedule of Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and aggregate fair value of debt securities at March 31, 2016, by contractual maturity, are presented in the following table (dollars in thousands).  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

(Dollars in Thousands)	Amortized Cost		Fair Value
Available-for-sale securities:
Due in one year or less	$	2,038	$	2,069
Due after one year through five years	15,799		16,127
Due after five years through ten years	34,131		33,956
Due after ten years	42,022		43,167
Total	$	93,990	$	95,319
Held-to-maturity securities:
Due in one year or less	$	—	$	—
Due after one year through five years	66		69
Due after five years through ten years	99		108
Due after ten years	2,205		2,298
Total	$	2,370	$	2,475

Schedule of Securities Available-for-Sale with Unrealized Losses

A summary of securities available-for-sale with unrealized losses as of March 31, 2016, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows (dollars in thousands):

	Less than 12 months				12 months or longer				Total
March 31, 2016	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Securities in a Loss Position
Fixed maturities
Corporate debt securities	$	8,769	$	284	$	4,349	$	889	$	13,118	$	1,173	25
Mortgage backed securities	2,393		79		710		24		3,103		103		11
Private label asset backed securities	4,985		414		1,790		217		6,775		631		10
Obligations of state and political subdivisions	—		—		339		3		339		3		1
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	995		3		352		7		1,347		10		3
Equity securities	—		—		1,176		110		1,176		110		1
	$	17,142	$	780	$	8,716	$	1,250	$	25,858	$	2,030	51

A summary of securities available-for-sale with unrealized losses as of December 31, 2015, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows (dollars in thousands):

	Less than 12 months				12 months or longer				Total
December 31, 2015	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Securities in a Loss Position
Fixed maturities
Corporate debt securities	$	18,205	$	821	$	3,783	$	907	$	21,988	$	1,728	44
Mortgage backed securities	9,069		161		675		63		9,744		224		20
Private label asset backed securities	4,962		379		84		1		5,046		380		10
Obligations of state and political subdivisions	1,920		36		331		11		2,251		47		5
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	6,131		70		1,452		26		7,583		96		12
Equity securities	—		—		1,173		113		1,173		113		1
	$	40,287	$	1,467	$	7,498	$	1,121	$	47,785	$	2,588	92

Summary of Major Categories of Investment Income

Major categories of investment income are summarized as follows (dollars in thousands):

	Three months ended March 31,
	2016		2015
Fixed maturities	$	901	$	894
Equity securities	28		30
Mortgage loans on real estate	1		4
Investment real estate	2		2
Policy loans	32		29
Company owned life insurance change in surrender value	34		44
Other	49		42
	1,047		1,045
Less: Investment expenses	56		43
Net investment income	$	991	$	1,002

Schedule of Realized Investments Gains (Losses)

Major categories of realized investment gains and losses are summarized as follows (dollars in thousands):

	Three months ended March 31,
	2016			2015
Fixed maturities	$	17		$	142
Other, principally real estate	(10		)	—
Net realized investment gains	$	7		$	142

Schedule of Net Change in Unrealized Appreciation

An analysis of the net change in unrealized appreciation on available-for-sale securities follows (dollars in thousands):

	March 31, 2016			December 31, 2015
Net change in unrealized appreciation on available-for-sale securities before deferred tax	$	1,754		$	(3,225	)
Deferred income tax	(596		)	1,097
Net change in unrealized appreciation on available-for-sale securities	$	1,158		$	(2,128	)